Contenders and Bums

In one of the greatest movie scenes about boxing, ironically not a single punch is thrown.

Instead, in the classic "On the Waterfront" former pugilist, Terry Malloy, played by Marlon Brando in an Oscar-winning role, and his corrupt older sibling, Charlie, portrayed by Rod Steiger, share an uncomfortable cab ride as Charlie tries to dissuade his younger brother from testifying about mob influence and corruption on the docks.

You can sense Terry's anguish and resentment surfacing through the layers of scar tissue of Charlie's betrayal, which ultimately, forced him to take a dive in the most important match of his career.

His famous line of "I could have had class. I could have been a contender. I could have been somebody, instead of a bum -- which is what I am," resonates as powerful today as it did in 1954 when the movie was released.

Former Enron accounting officer Richard Causey finds himself in a similar situation after striking a deal with prosecutors for a reduced sentence in exchange for testifying against former Enron chairman Ken Lay and former chief executive Jeffrey Skilling.

A significant difference, however, was that Causey was no naïve pug with a sudden attack of conscience.

He was, in fact, responsible for the company's public accounting statements and reported directly to Skilling. He was staring at 36 counts of conspiracy, wire fraud, securities fraud, insider trading, money laundering and making false statements on financial reports.

However, since he did not profit from any of the massive frauds perpetrated by executives at the failed energy trader, one would have to wonder why he would willfully aid and abet such behavior.

Lay, Skilling and Causey were scheduled to go to trial on Jan. 17, and all had pleaded not guilty to charges related to the company's massive 2001 bankruptcy.

The trio were enjoined in a defense agreement, meaning they agreed to share information for trial. Lay faces 11 criminal counts, while Skilling faces an imposing 35 counts.

Since the company imploded three years ago, 15 former Enron executives have pleaded guilty to such crimes as securities fraud and insider trading.

For his part, Causey will serve roughly seven years in prison and pay $1.25 million in fines, a sentence that could have at least two years shaved off it if prosecutors are satisfied with his testimony.

In the film, Terry Malloy ultimately does the right thing and helps send tyrannical union boss Johnny Friendly away for good.

I'm sure there are thousands of former Enron employees and shareholders who are hoping that plotline repeats itself in real life.

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